Can I retire at age 58 with 1,180,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$97,443$96,575$95,728$94,902$94,095$90,792
2 years$48,239$47,341$46,470$45,626$44,807$41,515
3 years$31,840$30,938$30,069$29,233$28,427$25,248
4 years$23,642$22,743$21,883$21,061$20,275$17,233
5 years$18,725$17,830$16,982$16,177$15,413$12,517
6 years$15,447$14,560$13,724$12,937$12,195$9,448
7 years$13,107$12,227$11,405$10,636$9,918$7,318
8 years$11,353$10,481$9,672$8,922$8,228$5,773
9 years$9,989$9,126$8,331$7,600$6,929$4,616
10 years$8,899$8,044$7,263$6,551$5,904$3,729
11 years$8,008$7,161$6,394$5,701$5,078$3,037
12 years$7,265$6,427$5,675$5,001$4,400$2,488
13 years$6,638$5,808$5,070$4,415$3,837$2,049
14 years$6,100$5,280$4,555$3,919$3,364$1,694
15 years$5,635$4,823$4,113$3,495$2,962$1,405
16 years$5,228$4,425$3,729$3,130$2,617$1,168
17 years$4,869$4,075$3,393$2,812$2,321$974
18 years$4,551$3,766$3,097$2,534$2,064$813
19 years$4,266$3,490$2,836$2,290$1,839$680
20 years$4,010$3,243$2,602$2,074$1,643$569
21 years$3,779$3,021$2,394$1,882$1,470$477
22 years$3,569$2,820$2,206$1,711$1,318$400
23 years$3,378$2,637$2,037$1,558$1,183$336
24 years$3,203$2,471$1,884$1,421$1,063$282
25 years$3,042$2,319$1,745$1,298$957$237
26 years$2,894$2,179$1,618$1,187$862$199
27 years$2,757$2,051$1,503$1,086$777$167
28 years$2,630$1,933$1,397$995$701$141
29 years$2,512$1,823$1,300$913$633$119
30 years$2,402$1,722$1,211$838$572$100
31 years$2,299$1,628$1,129$769$517$84
32 years$2,203$1,540$1,053$707$468$71
33 years$2,113$1,459$983$650$423$60
34 years$2,029$1,382$919$598$383$50
35 years$1,949$1,311$859$551$347$42
36 years$1,874$1,245$804$507$315$36
37 years$1,803$1,182$752$467$285$30
38 years$1,736$1,123$704$431$258$25
39 years$1,673$1,068$660$397$234$21
40 years$1,613$1,016$619$366$213$18
41 years$1,556$967$580$338$193$15
42 years$1,502$921$544$312$175$13
43 years$1,451$878$511$288$159$11
44 years$1,402$837$479$266$144$9
45 years$1,355$798$450$246$131$8
46 years$1,311$761$423$227$119$6
47 years$1,269$726$397$210$108$5
48 years$1,228$693$373$194$98$5
49 years$1,189$662$351$179$89$4
50 years$1,152$633$330$165$81$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,180,000, adding $6,373 every year, while hoping to spend $52,614 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 83/12/5 Blend
57$1,180,000$1,180,000$1,180,000$1,180,000
58$1,306,934$1,244,394$1,226,104$1,414,797
59$1,384,260$1,249,388$1,211,197$1,491,151
60$1,467,710$1,252,864$1,194,028$1,567,193
61$1,557,854$1,254,691$1,174,465$1,649,030
62$1,655,315$1,254,731$1,152,370$1,737,211
63$1,760,782$1,252,838$1,127,600$1,832,337
64$1,875,011$1,248,856$1,100,003$1,935,075
65$1,998,832$1,242,620$1,069,423$2,046,153
66$2,133,159$1,233,954$1,035,694$2,166,378
67$2,278,995$1,222,672$998,645$2,296,637
68$2,437,448$1,208,578$958,094$2,437,905
69$2,609,731$1,191,462$913,853$2,591,260
70$2,797,182$1,171,102$865,726$2,757,887
71$3,001,273$1,147,265$813,507$2,939,090
72$3,223,623$1,119,701$756,979$3,136,310
73$3,466,014$1,088,148$695,919$3,351,131
74$3,730,406$1,052,326$630,091$3,585,300
75$4,018,959$1,011,940$559,250$3,840,742
76$4,334,047$966,680$483,140$4,119,577
77$4,678,286$916,214$401,492$4,424,143
78$5,054,557$860,194$314,027$4,757,015
79$5,466,028$798,250$220,453$5,121,032
80$5,916,190$729,991$120,466$5,519,320
81$6,408,887$655,006$13,746$5,955,328
82$6,948,349$572,858$0$6,432,854
83$7,539,239$483,085$0$6,961,428
84$8,186,687$385,202$0$7,541,452
85$8,896,345$278,694$0$8,177,296
86$9,674,440$163,017$0$8,874,587
87$10,527,826$37,598$0$9,639,522
88$11,464,055$0$0$10,478,933
89$12,491,444$0$0$11,413,311
90$13,619,157$0$0$12,444,403
91$14,857,283$0$0$13,576,474
92$16,216,942$0$0$14,819,693
93$17,710,378$0$0$16,185,261
94$19,351,083$0$0$17,685,516
95$21,153,918$0$0$19,334,052
96$23,135,258$0$0$21,145,844
97$25,313,138$0$0$23,137,390
98$27,707,432$0$0$25,326,866
99$30,340,033$0$0$27,734,296
100$33,235,062$0$0$30,381,743